Suppose the spot exchange rate is NZD1 = AUD0.92, the four-month forward exchange rate is NZD1 = AUD0.93, the four-month risk-free rates in Australia and NZ are respectively 3% p.a. and 3.75% p.a. (both are continuously compounded). Ignoring transaction costs, an arbitrageur can earn riskless profit if she: Select one alternative borrows one unit of AUD and enters into a forward contract to sell AUD for NZD in four months. borrows one unit of NZD and enters into a forward contract to sell NZD for AUD in four months. borrows one unit of AUD and sells AUD for NZD, lends NZD and enters into a forward contract to sell NZD for AUD in four months. borrows one unit of NZD and sells NZD for AUD, lends AUD and enters into a forward contract to sell AUD for NZD in four months